Ann: FY24 Results Presentation, page-34

Disagree.

EV value of circa 12B.

EBITDA of circa 200M.

That's 60 times!!!!!! Which is madness!

To justify that multiple, it needs to be an epic growth story.

Growing revenues and EBITDA at just 18-19% doesn't cut it.

For contrast, Xero is significantly cheaper.. more like a 40x EV/EBITDA multiple,

AND more importantly, is growing much faster, and can do so MUCH more cheaply...

For NXT to triple its revenues and EBITDA, it needs to go and spend another $5-10 Billion.

Xero doesn't.

To be clear, I am not long or pro Xero, I am just offering context, particularly around growth stocks, and mega high multiples.



So my view is that investors are realizing that this is massively overvalued for what it is.

I'm not against NXT, I am just saying it should be maybe half the price, IMHO..